Cyren Ltd. (CYRN) stock plunged 8.88% in the current market trading session at the price of $0.29 despite no fundamental reason. The last published news was its earnings report for the three months ended on 30th September 2021.
Cyren Ltd. (CYRN) provides cloud security solutions to protect users from everyday cyber-attacks. The company delivers fast time-to-protection with embedded threat intelligence, threat detection, and email security solutions.
CYRN Third Quarter 2021 Financial Results
On 15th November 2021, CYRN published its financial results for the third quarter that ended on 30th September 2021. The company has also presented its business highlights.
CYRN Financial Summary
For the third quarter ended 30th September 2021, CYRN reported revenue of $7.5 million. Revenue totaled $9.1 million for the third quarter ended 30th September 2020. For the third quarter of 2021, GAAP net loss totaled $5.8 million. The company reported a GAAP net loss of $4.9 million for the same three months of 2020. For the third quarter ended 30th September 2021, GAAP loss was $0.07 per basic and diluted share. The company reported a GAAP loss per (basic and diluted) share of $0.08 for the third quarter of 2020.
For the third quarter ended 30th September 2021, cash from operating activities totaled $4.9 million. Cash from operating activities was $3.6 million for the third quarter ended 30th September 2020. For the third quarter of 2021, the company reported a positive net cash flow of $4.1 million with $9.3 million in net proceeds. Net cash flow was negative $3.2 million for the third quarter of 2020. As of 30th September 2021, the cash and cash equivalents were $17.9 million. CYRN reported cash and cash equivalents of $9.3 million as of 31st December 2020.
Management Comments
Chief executive officer of CYRN, Brett Jackson, remarked that the company is working to achieve higher revenue growth by building a new recurring revenue stream in the anti-phishing market. They are delighted to announce that Cyren Inbox Security market momentum continued to improve with a 36% rise in customer transactions during the third quarter. They believe Cyren Inbox Security will accelerate future revenue growth for the company, he added.
